Latest News
Businesses using cash to dodge obligations
The ATO is ‘cracking down’ on businesses that use cash to dodge obligations on their tax, employer and business. Businesses that do this may: – fail to report all sales transactions and fail to issue receipts; – avoid paying GST, income tax, PAYG withholding, super guarantee, insurance and work cover protection; – report their income […]
$20,000 instant asset write-off extended
Editor: The Government recently passed legislation to extend the $20,000 instant asset write-off for small businesses by 12 months to 30 June 2026. Taxpayers should note that if their business has an aggregated annual turnover of less than $10 million, they may be able touse the instant asset write-off (‘IAWO’) to immediately deduct the business […]
Tax dodgers banned from leaving the country
The ATO is actively using departure prohibition orders (‘DPOs’) as part of a broader shift towards strengthening payment performance and debt collection. A DPO is an enforcement action available to the ATO to prevent certain persons with tax liabilities from leaving Australia without paying their outstanding tax. Since July 2025, the ATO has issued 21 […]
Paying super guarantee
The ATO is reminding employers that they must pay super guarantee (‘SG’) contributions for eligible employees. Employers need to pay a minimum of 12% (the current SG rate as from 1 July 2025) of each employee’s ordinary time earnings into a complying super fund on a quarterly basis (the due date for the March 2026 […]
Taxpayer’s dog breeding activities held to be an enterprise
The Administrative Review Tribunal (‘ART’) recently held that a taxpayer had carried on an enterprise of dog breeding for GST purposes. He had lodged activity statements for the quarters ended 30 September 2018 to 31 December 2021 inclusive, claiming input tax credits (‘ITCs’) for the dog breeding activities he carried on from his home (among […]
Time limits on GST and fuel tax credit claims
Taxpayers should note that GST credits and fuel tax credits will expire if not claimed within the 4-year credit time limit (i.e., generally four years from the due date of the original BAS in which the taxpayer could have claimed them). Once credits expire, the ATO has no discretion or ability to amend the assessment […]
FBT And Cars: A Perennial Head-Scratcher
The provision of cars by employers to employees remains an issue that continues to create confusion for some business taxpayers. A not-uncommon situation is where the employer fails to identify that a car fringe benefit has been provided. This is typically found in family companies or trusts where a car bought by the business is […]
Recent Changes to the Assets Test For Pensioners
From January 1, 2017, the assets test free area and taper rate for pensions increased. The assets test works by reducing a person’s age pension payment for every dollar of assets owned over a certain value. The test takes into account most assets, including any property (except your primary home) or possessions owned, or partly owned, in […]
Controversial super change scrapped: but other proposals need to be watched.
At the time of writing, the new Parliament released the first batch of proposed changes to the superannuation regime, and among these was the announcement that the proposed $500,000 lifetime non-concessional cap is to be scrapped. These proposed changes are still in exposure draft form and may be subject to further tweaking. The government also […]
HELP Debt Changes
The Australian Government has introduced changes which mean if you have moved overseas and have a Higher Education Loan Program (HELP) or Trade Support Loan (TSL) debt, you now have the same repayment obligations as those who live in Australia. This applies if you already live or intend to move overseas for a total of […]
Planning To Retire
When you’re planning to retire you need to understand how any lump sum payments you receive from your employer might be taxed and, if you’re part of an Employee Share Scheme, consider whether the ‘good leaver’ conditions apply to you. Alternatively, if you’re selling your business, you’ll want to know whether or not the retirement […]
Records you need to keep
During the financial year you’ll receive documents that are important for doing your tax, such as payment summaries, receipts, invoices and contracts. Generally, you need to keep these for 5 years from when you lodge your tax return in case we ask you to substantiate your claims. Records you need to keep include: Payment summaries […]